Abbey Range Extended

Abbey, the popular and successful mortgage lender, has made an alteration to its buy to let lending criteria. Whether would-be homebuyers are looking for their first property, looking to expand their buy to let portfolio, or are just looking for a remortgage, Abbey have extended their maximum loan amount to £1 million per property at 85 per cent LTV.

As well as changing limits, Abbey have also extended their range, keeping their rates competitive and providing fee-free options. These deals typically have no booking fee or valuation fee, and in some cases offer £250 cash back. The up-front cost of taking out a mortgage is therefore kept extremely low.

Furthermore, Abbey has a particularly low minimum rental cover. All lenders require a minimum rental income, ensuring that repayments on the money lent can be met. Abbey offers 120 per cent of mortgage repayments, making buy to let more feasible for all kinds of landlords. Conversely, if landlords are looking for a super cheap rate, Abbey will provide this for a fee of £999.

The Product Executive for Abbey Mortgages and Loans said: “Our low up-front costs and flexible lending policy make it easy for landlords to enter the market and benefit from the investment opportunity. Equally, if a customer’s concern is to secure a really low rate on their mortgage, we can do that too. With our buy-to-let mortgages, you’re not just getting great, accessible deals but a level of service from our advisers in the branches and over the phone that comes with being a very established and experienced lender.”

Abbey mortgages are available through Ibuytolet by pressing the mortgage button on the home page and completing the form.